Chicago Multi-Family Neighborhood Help

[Joe Matthews]

To all my Chicago members…I’m making a quick trip to Chicago to check out the area for a future multi-family investment. Can any Chicago locals give me a few neighborhoods I must check out?

My budget is under $250,000 for a 2-4 unit duplex.

Thank you

[Crystal Smith]

$250K is a tough price point for move in ready multifamilies but it's possible. We've helped a few clients find them. Some lived in one unit while renting the rest, while others goals were for pure cash flow. Here are areas I recommend: Austin; Roseland; South Chicago, South Lawndale, Hedgewish, East Side, New City, West Pullman, Chatham, Humboldt Park, West Garfield Park, Chicago Lawn, Gage Park, East Garfield, Little Village, Woodlawn

Some of the areas above are not for the those with weak hearts, but opportunities exist. The best strategy if you have $250K cash is to leverage & get approved for a loan. Leveraging will allow you to expand the pockets of what's available or pick up something AS-IS; renovate it, refinance and rent it out.